UFP Industries (NASDAQ:UFPI) Price Target Raised to $155.00 at Benchmark

UFP Industries (NASDAQ:UFPI) had its price objective boosted by equities research analysts at Benchmark from $133.00 to $155.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Benchmark’s price objective would indicate a potential upside of 16.28% from the company’s current price.

UFPI has been the topic of a number of other research reports. Stifel Nicolaus increased their target price on shares of UFP Industries from $125.00 to $157.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com lowered shares of UFP Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Wedbush restated a “neutral” rating and issued a $120.00 target price (up previously from $102.00) on shares of UFP Industries in a research report on Tuesday. Finally, BMO Capital Markets lifted their target price on shares of UFP Industries from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.60.

UFP Industries Stock Performance

UFP Industries stock traded down $2.04 during trading hours on Wednesday, hitting $133.30. The company had a trading volume of 122,746 shares, compared to its average volume of 287,698. The firm has a market cap of $8.23 billion, a PE ratio of 16.58 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.79 and a quick ratio of 3.37. UFP Industries has a one year low of $90.62 and a one year high of $136.14. The firm has a 50-day moving average of $116.72 and a 200 day moving average of $116.40.

UFP Industries (NASDAQ:UFPI) last released its quarterly earnings results on Tuesday, July 30th. The construction company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.02. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.87 billion. UFP Industries had a net margin of 7.24% and a return on equity of 17.07%. The business’s revenue was down 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.36 EPS. On average, sell-side analysts expect that UFP Industries will post 7.52 earnings per share for the current year.

Insider Activity

In other news, insider Patrick M. Benton sold 11,725 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $115.27, for a total value of $1,351,540.75. Following the sale, the insider now owns 97,729 shares of the company’s stock, valued at $11,265,221.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Bruce A. Merino sold 16,472 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $117.88, for a total transaction of $1,941,719.36. Following the sale, the director now owns 7,107 shares of the company’s stock, valued at approximately $837,773.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick M. Benton sold 11,725 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $115.27, for a total transaction of $1,351,540.75. Following the sale, the insider now directly owns 97,729 shares in the company, valued at approximately $11,265,221.83. The disclosure for this sale can be found here. Insiders have sold a total of 32,687 shares of company stock valued at $3,831,653 over the last quarter. Company insiders own 2.58% of the company’s stock.

Institutional Trading of UFP Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in UFP Industries in the 4th quarter worth approximately $30,000. Rise Advisors LLC purchased a new position in UFP Industries in the 1st quarter worth approximately $33,000. Opal Wealth Advisors LLC purchased a new position in UFP Industries in the 1st quarter worth approximately $33,000. SRS Capital Advisors Inc. grew its stake in UFP Industries by 218.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 287 shares of the construction company’s stock worth $36,000 after buying an additional 197 shares in the last quarter. Finally, Eagle Bay Advisors LLC purchased a new position in UFP Industries in the 4th quarter worth approximately $49,000. Institutional investors own 81.81% of the company’s stock.

UFP Industries Company Profile

UFP Industries, Inc, through its subsidiaries, designs, manufactures, and markets wood and non-wood composites, and other materials in North America, Europe, Asia, and Australia. It operates through Retail, Packaging, and Construction segments. The Retail segment offers treated lumber products, including decking, fencing, lattice, and other products; pressure-treated and fire-retardant products used primarily for outdoor decking environments; and lawn and garden products, consisting of wood and vinyl fencing options, garden beds and planters, pergolas, picnic tables, and other landscaping products.